Porsche Reconsiders Electric 718 Boxster and Cayman Amid Cost Pressures

Porsche is weighing whether to scrap its planned electric versions of the 718 Boxster and Cayman as the automaker looks to rein in ballooning costs tied to its EV strategy, according to people familiar with the matter. The decision would mark a significant retreat from Porsche’s original plans for electric sports cars.

Porsche reconsiders electric 718 amid cost pressures

Porsche is considering shelving the electric 718 program, which was meant to revive the Boxster and Cayman as battery-electric models, the people said. Development delays and rising costs have complicated the project, prompting internal discussions about whether it still makes financial sense to proceed.

The gasoline-powered Boxster and Cayman were discontinued in 2025 after years of serving as Porsche’s most affordable entry point, with starting prices around €70,000. Porsche had planned to reintroduce the models as EVs as early as 2026, but those timelines are now in question, according to Bloomberg News.

Adding to the complexity, deliberations over a potential plug-in hybrid version reportedly created further challenges, since such a model would require different vehicle underpinnings. That approach could delay the project by several years and risk launching the cars with outdated technology at a time when Porsche needs fresh products to reignite demand.

New CEO faces EV pullback and factory utilization risks

The decision ultimately rests with Porsche’s new CEO Michael Leiters, who took over the role on January 1 after succeeding Oliver Blume. Leiters has not made a final call, but he is under pressure to balance tightening budgets against concerns about underused factories as EV demand falls short of expectations.

Porsche’s EV reassessment comes as sales in China have slumped and the company works to unwind parts of its earlier electric push. The automaker has warned that course-correcting its EV strategy could cut operating profit by as much as €1.8 billion in 2025. Additional pressure comes from U.S. import tariffs, which affect Porsche’s largest single market.

In 2024, the final full year of production for the combustion-engine 718 models, Boxster and Cayman sales rose 15% to 23,670 units. Despite that momentum, Porsche is now pivoting back toward combustion and hybrid models as it seeks to stabilize earnings and return to double-digit margins after 2026, according to comments from CFO Jochen Breckner.

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